07-27-2005 Additions - Laserfiche WebLink

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Agreement, and Developer agrees to indemnify, defend and hold harmless the EDA Parties from and against the same. 5. Insurance. Developer must provide the EDA with a certificate of insurance evidencing that Developer has obtained and is maintaining occurrence -based comprehensive general liability insurance (including contractual liability insurance) insuring against claims for death, bodily injury and property damage in coverage amounts not less than $2,000,000 per occurrence and $3,000,000 in aggregate pursuant to a policy or policies that name the EDA as an additional insured party. 6. Restoration. If the EDA has not conveyed Parcel 1 to Developer on or before October 1, 2005, Developer must fill any holes or excavations on Parcel 1, compact the fill, grade Parcel 1 to a consistent grade based on adjoining properties that is to be approved by the EDA prior to the commencement of any restoration activity, and seed Parcel 1 in accordance with any requirements imposed by the Washington/Ramsey Watershed District. The restoration activities described in this Section 5 shall be completed by October 31, 2005, unless such activities must be delayed due to weather conditions. 7. Governing Law. The parties agree that the interpretation and construction of this Agreement shall be governed by the laws of the State of Minnesota. 8. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument. 9. Termination. This Agreement terminates with respect to Parcel 1 upon the EDA's conveyance of Parcel 1 to Developer or, if Parcel 1 is not conveyed to Developer on or before October 1, 2005, upon Developer's completion of the restoration activities described in Section 6. This Agreement terminates with respect to Parcel 2 upon the completion of the Minimum Improvements on Parcel 1 or, if Developer does not construct the Minimum Improvements on Parcel 1, upon Developer's completion of the restoration activities described in Section 6. The provisions of Section 3 shall survive termination of this Agreement with respect to claims, liabilities, costs or expenses arising out of or relating or circumstances occurring prior to the termination of this Agreement. [The remainder of this page has been left blank intentionally. Signature pages follow.]